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A real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real estate. The sale of land is governed by the laws and practices of the jurisdiction in which the land is located. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases (rental ...
The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601 – 2617. The main objective was to protect homeowners by assisting them in becoming better educated while shopping for real estate services, and eliminating ...
A buyer who has entered into a contract with a seller who wants to back out should consult a real estate attorney. If the buyer wants to take the case to court, they may have grounds to sue the ...
Hamer v. Sidway, 124 N.Y. 538, 27 N.E. 256 (N.Y. 1891), was a noted decision by the New York Court of Appeals (the highest court in the state), New York, United States.It is an important case in American contract law by establishing that forbearance of legal rights (voluntarily abstaining from one's legal rights) on promises of future benefit made by other parties can constitute valid ...
Estoppel certificate. An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [1] It is used in a variety of countries for commercial and ...
Firmness, commodity, and delight (Latin: firmitas, utilitas et venustas) are the three aspects of good architecture declared by the Roman architect Vitruvius in his book "De architectura" ("On architecture", 1st century BC) and are also known as Vitruvian virtues, Vitruvian Triad. The literal meaning of the Latin phrase is closer to "durability ...
Virtue jurisprudence. In the philosophy of law, virtue jurisprudence is the set of theories of law related to virtue ethics. By making the aretaic turn in legal theory, virtue jurisprudence focuses on the importance of character and human excellence or virtue to questions about the nature of law, the content of the law, and judging.
A purchase and sale agreement (PSA), also called a sales and purchase agreement (SPA) [1] or an agreement for purchase and sale (APS), [2] is an agreement between a buyer and a seller of real estate property, company stock, or other assets. The person, company, or other legal entity acquiring, receiving, and purchasing the property, stock, or ...
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